VW says expects to be profitable in 2020 as first-quarter earnings drop
Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge.
Daimler sees profits at Mercedes-Benz Cars rising in 2020
Daimler said it expected the full-year operating profit of its Mercedes-Benz Cars & Vans division to be above the prior-year level but warned that the coronavirus pandemic will push the group to an operating loss in the second quarter.
Airbus first-quarter core profit plunges 49% as coronavirus crisis starts to bite
Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the “gravest crisis the aerospace industry has ever known”.
Samsung warns of second-quarter profit fall as coronavirus hits sales of phones, TVs
Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
Much of U.S. economy still plugging along despite coronavirus pain
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.
Fed likely to renew vow to use all tools to brace economy
The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world’s largest …
Airbus first-quarter core operating profit tumbles 49%
Planemaker Airbus posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the “gravest crisis the aerospace industry has ever known”.
StanChart profit falls 12% on coronavirus crisis
Standard Chartered PLC said on Wednesday its first-quarter profit tumbled 12%, as the emerging markets-focused bank boosted provisions against bad loans as the coronavirus crisis hammers its borrowers.
Coronavirus likely hammered U.S. economy in first quarter
The U.S. economy likely contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history….
Exclusive: Boeing eyes major bond issue to raise funds – sources
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package, aiming to shore up its balance sheet amid a sharp travel downturn from the pandemic, three people familiar with the matter said on Tuesday.
